Varun Beverages Subsidiaries Bevco and Twizza to Merge

Varun Beverages Ltd announced that its subsidiary, The Beverage Company Proprietary Limited (Bevco), and its step-down subsidiary, Twizza Proprietary Limited (Twizza), have approved a merger. Twizza will merge with its holding company, Bevco, subject to South African laws. This merger aims to achieve business operation synergies and optimize operational costs. Twizza's turnover for FY25 was ZAR 1,695 Million, while Bevco's consolidated turnover was ZAR 4,818 Million. The transaction is considered a related party transaction and will be conducted at arm's length. As Twizza is wholly-owned by Bevco, no cash consideration or new shares will be issued; Twizza's share capital will be cancelled.